{"id":51519,"date":"2026-05-06T14:51:34","date_gmt":"2026-05-06T13:51:34","guid":{"rendered":"https:\/\/www.monexeurope.eu\/en\/?p=51519"},"modified":"2026-05-06T14:51:34","modified_gmt":"2026-05-06T13:51:34","slug":"monexs-may-2026-fx-forecasts","status":"publish","type":"post","link":"https:\/\/www.monexeurope.eu\/en\/monexs-may-2026-fx-forecasts\/","title":{"rendered":"Monex&#8217;s May 2026 FX Forecasts"},"content":{"rendered":"<p>Conflict between the US, Israel, and Iran proved the major market theme yet again in April, despite a ceasefire agreed early in the month. While this was enough to see the dollar cool from recent highs, the twists and turns of peace negotiations continued to buffet currency markets. More typical catalysts remain overshadowed by evolving risk conditions and oil prices, with no lasting resolution in sight. That should remain the case in May too, although our baseline does foresee a framework agreement emerging in the coming weeks, allowing trade flows through the Strait of Hormuz to finally resume.<\/p>\n<p>Accordingly, we think the month ahead will eventually see more immediate Middle East concerns give way to worries about economic scarring. Still, traders are likely to remain wary of any peace deal collapsing, at least initially, while energy supply disruptions are yet to fully filter through, keeping oil prices supported. We think this suggests a modest uplift for the buck in the month ahead on balance, even as markets begin to refocus on inflation, growth, and monetary policy, once a peace deal is announced. Longer term, however, our view remains that those fundamentals continue to favour renewed greenback downside.<\/p>\n<p>Read our May 2026 FX Forecasts here:<\/p>\n<h4><a href=\"https:\/\/www.monexeurope.eu\/en\/wp-content\/uploads\/sites\/13\/2026\/05\/Monex-May-2026-FX-Forecasts.pdf\" target=\"_blank\" rel=\"noopener\">DOWNLOAD THE FULL REPORT<\/a><\/h4>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h6><strong>Authors:\u00a0<\/strong><\/h6>\n<p>Nick Rees, Head of Macro Research<\/p>\n<p><!--StartFragment --><span class=\"cf0\">Barry van der Laan, <!--StartFragment -->Senior FX Market Strategist<!--EndFragment --><\/span><!--EndFragment --><\/p>\n<h6><\/h6>\n<h6><strong>Disclaimer<\/strong><\/h6>\n<h6>This information has been prepared by Monex International Markets plc, part of Monex S.A.P.I. de C.V. (\u201cMonex\u201d). The material is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is, or should be considered to be, financial, investment or other advice on which reliance should be placed. No representation or warranty is given as to the accuracy or completeness of this information. All entities in the \u201cMonex\u201d group of companies are regulated for different products and services within the jurisdictions in which they operate. Details of the different entities can be found <span style=\"text-decoration: underline;\"><span style=\"color: #009cde;\"><a style=\"color: #009cde; text-decoration: underline;\" href=\"https:\/\/monex.global\/index_i.php\">here<\/a><\/span><\/span>. Details of the respective entities&#8217; regulated status and available products and services can then be found on the relevant links to the individual jurisdictions&#8217; website.<\/h6>\n","protected":false},"excerpt":{"rendered":"<p>Our Monex FX analysts think the month ahead will eventually see more immediate Middle East concerns give way to worries about economic scarring.<\/p>\n","protected":false},"author":9,"featured_media":51520,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[38,41],"tags":[],"class_list":["post-51519","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forecasts","category-pdf"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Monex&#039;s May 2026 FX Forecasts - 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